In recent years the media has been awash with stories of some of the most popular high street stores being struck down by the credit crunch. Once popular family favourites such as Woolworths, HMV and Blockbuster have all been given the chop after failing to keep afloat in hardened times. While spiralling debts may be a cause for some of this, it is no secret that advances in modern technology have also proven to be strong competitors to the humble high street store. With more and more of us becoming connected, are we going to say goodbye to the high street as we know it?
In the last decade, mobile apps have become increasingly more prevalent in our everyday lives, with more and more of us depending on them to help us get through seemingly easy and mundane tasks. Interestingly, the rise in app popularity has correlated directly with the economic crisis, with 0.01 billion apps downloaded in 2008, rising to an incredible 85 billion in 2014.
Looking deeper into these statistics, it appears that shopping apps have become one of the biggest growth markets in recent years. An article published by CBS New York in March this year reported that grocery shopping apps had experienced an exponential rise recently, with apps such as Grocery Gadget topping the App Store charts in the shopping category.
It seems there are myriad benefits to shopping online, as food economist Carolyn Dimitri explained: “Plan your whole menu and shopping list in advance, and you can know exactly how much it costs.” Indeed, there is certainly less scope for temptation by shopping online, but other trends are now indicating that it is not just the retail industry which is being taken over by mobile apps.
Look into an apps statistic graph and you’ll see that games are by far the most downloaded type of app, causing the entertainment industry to seriously re-think its strategies and make sure they are going mobile-friendly. This is something that has attracted the attention of the casino industry, which is now branching out with platforms like Euro Palace mobile games, in a bid to regain the declining interest in the industry. It seems then, that more and more industries are going mobile, and with the increased choice, and ability to be connected 24 hours a day, it is of little wonder that high street is losing out to competitors.
In order to survive in this ever-changing climate, it is up to these industries to see how they can integrate mobile apps into their strategy in order to move with the times and embrace the competition.
Categories : Financial Troubles, IT